Detailed Explanation of B² Network: How to Expand the Bitcoin Ecosystem?

Author: Rocky

The $1.3 trillion market value of Bitcoin has much of its potential untapped, presenting opportunities waiting to be explored. The TVL of ETH L2 has surpassed 10% of Ethereum's market value, indicating a huge market space for BTC L2! Today, we will introduce B² Network, which uses ZK as its core technology, has strong partners and financing background, and is expected to become one of the most viable Bitcoin L2 solutions. Recently, there are also rewards available through B² Hive and B² Buzz activities!

The original intention of Bitcoin's design was to maximize security and decentralization, but it sacrificed scalability and cannot execute smart contracts. As the user base expands, issues such as network congestion, transaction delays, and skyrocketing transaction fees are becoming difficult to resolve. Additionally, after the halving, miners' economic benefits have decreased, making it urgent for the Bitcoin network to gain ecological empowerment and rich on-chain activities to maintain a stable number of miners and network security, which has also created a huge demand for BTC L2.

B² Network is a leading Layer 2 project on BTC, and it is an EVM-compatible ZK Rollup. Rollup data and ZK proof validation commitments are recorded on the BTC network and ultimately confirmed through a challenge-response mechanism. The project adopts a modular design architecture, including a Rollup layer and a Data Availability (DA) layer, known as B² Hub. The Rollup layer is responsible for submitting and processing user transactions, while the DA layer is responsible for storing copies of aggregated data and validating aggregated zk proofs.

The Rollup of B² requires state transition validation through B² Hub and data availability storage validation, generating commitments that are submitted to the Bitcoin network. Therefore, the security and decentralization of B² Hub are very important. B² Network has chosen a PoS mechanism to protect B² Hub. To ensure the security of the consensus mechanism, BTC Stak has also been introduced. In addition, developers are working on LSD/LRT projects based on B² PoS to release liquidity and achieve integration with other DApps.

The advantages of B² Network include the following points:

1. Designed B² Hub to unify the submission of data availability proofs and state transition proofs to the Bitcoin network without affecting the proof operation of Bitcoin itself, preventing Bitcoin from being adversely affected by Layer 2 expansion;

2. Provides an off-chain trading platform that supports Turing-complete smart contracts, improving trading efficiency and reducing costs;

3. Ensures enhanced privacy and security of transactions through zero-knowledge proof technology.

Ecological Aspects

B² Network's partners are all top projects and are continuously expanding its ecological landscape. It ensures security through the Babylon staking and timestamp protocol, effectively avoiding remote attacks. Recently, it announced a collaboration with Polygon Labs to create the first BTC use case integrated with Polygon CDK, which means that in the future, developers can choose the "Polygon CDK + B² Hub" combination to initiate their own BTC rollup!

Financing Aspects

B² Network secured seed round financing from well-known investment institutions such as @HashKeyCapital, @OKXVentures, @IDG Capital, @ABCD Labs, and @waterdripfund on January 25 this year.

B² Network launched its mainnet on April 17. By joining B² Hive, B² Buzz, and B² Discovery, users can obtain early B² tokens at a low cost, which will be introduced one by one.

Before starting, we need to bridge BTC assets to the B² mainnet. After entering the website, connect to OKX or Unisat wallet, enter the amount of BTC to be bridged, and click "Deposit Funds".

Portal: https://bsquared.network/bridge/

1. B² Hive:

B² Hive is a key component of B² PoS, allowing users to protect the B² network by staking BTC. In return, users can earn B² token rewards. After the launch of Babylon BTC Stake on the mainnet, B² users can also receive rewards from Babylon.

Staking rewards began at 4 AM UTC on May 3, with the distribution rules as follows:

1. A block is generated every 2 seconds, producing $0.3375 of $B² per block, distributed according to the proportion of stakers. The total supply of $B² is 210 million.

2. Users can stake and unstake at any time according to their wishes. Unstaking only requires 24 hours.

3. The minimum staking amount is 0.001 BTC, and more types of assets will soon support staking.

The staking process is also quite simple. First, you need to bridge Bitcoin from your BTC wallet to the B² mainnet. After entering the staking website, connect your wallet, enter the amount of tokens to stake, and then click "Stake". If you want to unstake, enter the amount to unstake in the "withdrawal" section shown and click "Unstake".

Staking website: https://hive.bsquared.network

Audit report website: http://scalebit.xyz/reports/B%C2%B2--Stake-Final-Audit-Report.pdf

2. B² Buzz

B² Buzz encompasses activities related to assets and on-chain events, including but not limited to bridging lotteries, Runes Fest, staking alliances, and the broader Bitcoin network. It is explicitly stated that 30% of the tokens will be distributed to users through Buzz, with bridging activities accounting for 0.5%. Starting from April 30, Buzz assets will support bridging to EVM-compatible chains, and the functionality for bridging Bitcoin will soon be opened!

To participate in Buzz activities, simply enter the website, connect your wallet, enter the invitation code, and follow @BSquaredNetwork. Enter the interface, input the amount of tokens you want to bridge to the B² network, and click "Bridge". To maximize profits, we need mining components, and now through the OKX wallet, we can directly trade B² Buzz mining NFTs.

Interactive website: https://buzz.bsquared.network/?code=mznxf

Mining trading: https://okx.com/web3/marketplace/nft/collection/bsquared/buzz-mining-rigs

3. B² Discovery

B² Network has launched the "B² Mainnet Discovery and Bitcoin Halving Commemoration Event," which includes a series of exploration activities. Currently, there are two ongoing activities, and by completing the corresponding tasks, you can receive airdrop rewards!

B² Discovery website: https://bsquared.network/discovery/

Okapi activity website: https://app.okapi.xyz/discovery/campaign/b-ecosystem-discovery…

UXLink activity website: https://dapp.uxlink.io/discover/detail?id=1779158074653667348

1. Okapi activity: After entering the activity website, connect your wallet, write a review for B² Network to create an Okapi Vault, then return to the main interface, select Okapi Drops, and choose B² Network.

Participate in other activities within the platform to earn additional rewards.

2. UXLink activity:

To enable more web2 users to seamlessly join web3, B² Network and UXLink initiated this activity. After entering the website, follow the instructions to connect your wallet, follow and retweet to complete the tasks, then click the "UXLINK NFT" in the upper right corner to choose to mint an NFT, and you will receive triple airdrop rewards from UXLink, B² Network, and LayerCraft!

Summary: B² Network employs a clever modular architecture design and significantly expands the scalability of the BTC ecosystem through the use of zk rollup and B² Hub while ensuring security! It has the backing of well-known institutional investments and collaborates with leading projects, all of which help B² become one of the most viable Bitcoin L2 solutions. For users, it also opens up various activities to acquire B² tokens at a low cost, making it worthwhile for early positioning!